UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report: March 30, 2020
(Date of earliest event reported)
 
VASO CORPORATION
(Exact name of registrant as specified in charter)
 
Delaware
 
0-18105
 
11-2871434
(State or other jurisdiction
 
(Commission File
 
(IRS Employer
of incorporation)
 
Number)
 
Identification No.)
 
137 Commercial Street, Suite 200, Plainview, New York
 
11803
(Address of principal executive offices)
 
(Zip Code)
 
Registrant’s telephone number, including area code: (516) 997-4600
 
                                                                                                  .
 (Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement to communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered or to be registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
 
 
 
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountant standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 

 
 
 
ITEM 8.01 – OTHER EVENTS
 
In accordance with the Securities and Exchange Commission (the “SEC”) Order Under Section 36 of the Securities Exchange Act of 1934 Granting Exemptions from Specified Provisions of the Exchange Act and Certain Rules Thereunder, SEC Release No. 34-88318, dated March 4, 2020 (the “Order”), Vaso Corporation (the “Company”) hereby states the following:
 
●
The Company is relying on the relief provided by the Order in connection with the filing of its Annual Report on Form 10-K for the year ended December 31, 2019 (the “Annual Report”).
●
The delay in filing is due to staffing difficulties by both the Company and the auditors as a result of the COVID-19 pandemic, materially impairing the Company’s ability to file its Annual Report by March 30, 2020. The Company’s principal offices, including its accounting department, are located in Nassau County, New York, which area has been significantly impacted by the coronavirus. Attached is a letter from the Company’s auditors, MaloneBailey LLP, in support of this position.
●
The Company currently expects to file the Annual Report on or before April 20, 2020, but in any event no later than 45 days after the original due date for the Annual Report.
 
Forward-Looking Statements
 
Forward looking statements in this document are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
 
Except for historical information contained in this report, the matters discussed are forward-looking statements that involve risks and uncertainties, including but not limited to the spread of COVID-19 and governmental and industry response thereto. When used in this report, words such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “plans”, “potential” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in IT and healthcare; continuation of the General Electric Healthcare agreements; the impact of competitive technology and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; and the risk factors reported from time to time in the Company’s SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
 
 
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ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
 
(d)            
Exhibits.
 
Exhibit No.
 
Description 
99
 
Letter from MaloneBailey LLP to the Board of Directors of Vaso Corporation dated March 26, 2020. 
 
 
 
3
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
VASO CORPORATION
 
 
 
 
 
Date: March 30, 2020
By:  
/s/ Jun Ma  
 
 
 
Jun Ma
 
 
 
Chief Executive Officer and President
 
 
 
 
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